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House prices to be "steady" in Scotland

24 February 2010

House prices are likely to remain stable in Scotland over the course of 2010, an expert has said.

Property partner at legal firm Russel + Aitken Dianne Paterson said the prospect for those looking to get a mortgage is likely to be one where conflicting forces balance each other out.

She stated that prices could rise if the lack of "good quality stock" on the market continues while demand rises.

However, Ms Paterson continued, "it is likely that more stock will gradually come on to the markets to meet this growing demand, keeping prices steady in the months ahead".

The partner also suggested that recent statistics indicating that certain parts of Scotland had widely differing price trends were down to the fact that low transaction volumes meant a few large purchases could have an unusually large impact on the overall figure.

Lloyds TSB Scotland data indicated that Scottish prices were up by 5.9 per cent in the three months to the end of January 2010.

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